Keefe, Bruyette & Woods Lowers Claros Mortgage Trust (NYSE:CMTG) Price Target to $4.00

Claros Mortgage Trust (NYSE:CMTG) had its price objective cut by investment analysts at Keefe, Bruyette & Woods from $6.50 to $4.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 2.30% from the company’s current price.

Several other research firms have also recently weighed in on CMTG. UBS Group upgraded shares of Claros Mortgage Trust from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $8.00 to $6.00 in a research report on Friday. JPMorgan Chase & Co. dropped their target price on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.13.

Claros Mortgage Trust Price Performance

NYSE CMTG traded up $0.01 on Tuesday, hitting $3.91. 106,140 shares of the company were exchanged, compared to its average volume of 539,556. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11. The company has a market cap of $544.91 million, a P/E ratio of -6.21 and a beta of 1.62. Claros Mortgage Trust has a 1-year low of $3.66 and a 1-year high of $12.86. The firm has a 50 day moving average of $5.70 and a two-hundred day moving average of $7.06.

Hedge Funds Weigh In On Claros Mortgage Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in shares of Claros Mortgage Trust by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock valued at $369,000 after acquiring an additional 2,885 shares during the period. Blue Trust Inc. raised its holdings in Claros Mortgage Trust by 2,260.7% in the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock worth $43,000 after purchasing an additional 5,177 shares during the period. Atria Investments Inc boosted its position in shares of Claros Mortgage Trust by 29.2% during the third quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock worth $193,000 after purchasing an additional 5,823 shares in the last quarter. State Street Corp grew its holdings in shares of Claros Mortgage Trust by 0.3% in the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company’s stock valued at $16,436,000 after buying an additional 6,882 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at $101,000. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

Claros Mortgage Trust, Inc operates as a real estate investment trust. It focuses on originating senior and subordinate loans on transitional commercial real estate assets in the United States. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders.